Europe has been operating wind turbines offshore for close to a decade. The United Kingdom is the current market leader in Europe, with Germany also coming on quite strong. However, Pike Research forecasts that China’s offshore wind market will pull even with Europe’s two largest players by the end of the forecast period, with the United States trailing behind. Key factors shaping offshore wind markets over the coming years include a move toward larger wind turbines, new innovations for less expensive operations and maintenance, a focus on high-voltage direct current (HVDC) transmission lines, and the need to secure new sources of financing.
This Pike Research report provides an in-depth analysis of global opportunities in the offshore wind power market, as well as an examination of key challenges facing the industry. It examines technology innovations that will influence the future direction of the market, and also features detailed profiles of key industry players, including a SWOT analysis for each. Market forecasts extend through 2017 and include projections for installed capacity, installation costs, and production revenue, segmented by region and country.
Key Questions Addressed:
Which countries will lead in offshore wind development over the next six years – and why?
What key barriers and opportunities will shape the U.S. market?
Which wind turbine manufacturers will lead the offshore wind market?
How much capital will be invested in supporting infrastructure by 2017?
Which countries (and U.S. states) offer the best policy support for offshore wind?
What sorts of innovation will be required in foundations, vessels, and ports in order to accommodate expected market growth?
Who needs this report?
Wind turbine and component manufacturers
Grid infrastructure companies
Maritime industries
Industry associations
Government agencies
Investor community
Table of Contents
1. Executive Summary
1.1 The Offshore Wind Power Opportunity
1.2 Offshore Wind Power Market Forecast
2. Market Issues
2.1 Wind Power Fundamentals
2.2 Why Move Offshore?
2.2.1 Superior Untapped Offshore Wind Resources
2.2.2 Best Terrestrial Sites Taken in Mature Markets
2.2.3 Better Power Production Capacity Factors
2.2.4 Potential Synergy with Hydrokinetic Power Generation
2.2.5 Best Bet for Green Jobs?
2.2.6 The Business Case for Offshore Wind: SWOT Analysis
2.3 A Brief History Lesson: Tracing the Evolution of Wind Power
2.3.1 Early U.S. Development Efforts
2.3.2 The Energy Crisis of the 1970s: California Boom Years
2.3.3 Denmark, Germany, and Spain: The European Takeover
2.3.4 The Re-Emergence of U.S. Market: GE and Texas
2.3.5 China: The New Global Leader on Wind Energy
1.4 Current Market Opportunities
2.4.1 Carbon Emissions Reduction Strategies
2.4.2 Diverse Supply Portfolios to Limit Future Fuel Risks
2.4.3 NIMBY Backlash in Key Onshore Markets
2.4.4 Regional Efforts to Tap into Green Economy
2.5 Industry Growth Drivers
2.5.1 Legislative Support
2.5.2 Regulatory Support
2.5.3 Clean Energy Incentives
2.5.4 Specific Subsidies
2.5.5 Materials Science Advances
2.5.6 Economies of Scale
2.5.7 Economics Overview
2.5.7.1 Cost of Conventional Energy Source Trends
2.5.7.1.1. United States
2.5.7.1.2. Europe
2.5.7.1.3. Asia Pacific and Rest of the World
2.5.7.2 Cost of Competing Clean Energy Technologies
2.5.7.3 Net Cost of Onshore Wind Power
2.5.7.4 Net Cost of Offshore Wind Power
2.5.8 Implementation Issues
2.5.8.1 AC and HVDC Transmission Systems
2.5.8.2 Logistics: Vessels and Cranes
2.5.8.3 Ports
2.5.8.4 Siting Concerns
2.5.8.5 Financing Trends
3. Technology Issues
3.1 Basic Principles of Wind Power Conversion to Electricity
3.2 Wind Turbine Component Overview
3.2.1 Rotors and Blades
3.2.2 Gearboxes and Generators
3.2.3 Towers
3.2.4 Grid-Friendly Controls and Intelligence
3.1 Recent History of Wind Turbine Component Failures
3.2 Wind Turbine Architectures
3.4.1 Three-Bladed Horizontal Axis Upwind Variable Speed Rotor
3.4.1.1 Commercialization Time Horizon
3.4.1.2 Cost
3.4.1.3 Efficiency
3.4.1.4 Reliability
3.4.1.5 Scalability
3.4.1.6 Availability
3.4.2 Two-Bladed Horizontal Axis (Downwind and Upwind)
3.4.2.1 Commercial Time Horizon
3.4.2.2 Cost
3.4.2.3 Efficiency
3.4.2.4 Reliability
3.4.2.5 Scalability
3.4.2.6 Availability
3.4.3 Vertical Axis
3.4.3.1 Commercial Time Horizon
3.4.3.2 Cost
3.4.3.3 Efficiency
3.4.3.4 Reliability
3.4.3.5 Scalability
3.4.3.6 Availability
4. Key Industry Players
4.1 Wind Turbine Manufacturers
4.1.1 Areva Renewable, Inc.
4.1.2 Clipper Windpower
4.1.3 General Electric
4.1.4 Goldwind Science & Technology Co., Ltd.
4.1.5 REpower
4.1.6 Siemens AG
4.1.7 Vestas
4.2 Project Developers
4.2.1 Fishermen’s Energy
4.2.2 Mainstream Renewable Power
4.2.3 NRG Bluewater Wind LLC
4.3 Utilities
4.3.1 National Grid
4.3.2 Vattenfall
4.4 Transmission Innovators
4.4.1 ABB
4.4.2 Google
4.5 Logistics Pioneers
4.5.1 Statoil
4.6 Carbon Trust “Offshore Wind Accelerator” Case Study
4.6.1 Gifford/BMT/Freyssinet Gravity Concrete Structure
4.6.2 Keystone Bucket
4.6.3 MBD Suction Bucket Monopile
4.6.4 SPT Offshore & Wood Group Tribucket
5. Market Forecasts
5.1 Global Renewable Energy Generation Trends
5.2 Offshore Wind Power Forecast Methodology Overview
5.2.1 Future Capacity Forecasts
5.2.1.1 Base Scenario
5.2.1.2 Dire Scenario
5.2.1.3 Aggressive Scenario
5.2.2 Installation Cost and Power Production Revenue Forecasts
5.3 Regional Offshore Wind Power Market Forecasts
5.3.1 North America
5.3.1.1 United States
5.3.1.1.1. Delaware
5.3.1.1.2. Maine
5.3.1.1.3. Maryland
5.3.1.1.4. Massachusetts
5.3.1.1.5. New Jersey
5.3.1.1.6. New York
5.3.1.1.7. North Carolina
5.3.1.1.8. Ohio
5.3.1.1.9. Rhode Island
5.3.1.1.10. Texas
5.3.1.1.11. Virginia
5.3.1.1.12. U.S. Case Study: Cape Wind
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Belgium
5.3.2.2 Denmark
5.3.2.3 Finland
5.3.2.4 France
5.3.2.5 Germany
5.3.2.6 Ireland
5.3.2.7 Italy
5.3.2.8 The Netherlands
5.3.2.9 Norway
5.3.2.10 Spain
5.3.2.11 Sweden
5.3.2.12 United Kingdom
5.3.2.12.1. European Case Study: North Sea Supergrid
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.1.1. Chinese Case Study: Donghai Bridge Wind Farm
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Korea
5.3.4 Rest of the World
5.3.4.1 Latin America
5.3.4.1.1. Brazil
6. Company Directory
7. Acronym and Abbreviation List
8. Table of Contents
9. Table of Charts and Figures
10. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
Offshore Wind Installed Capacity, Base Scenario, World Markets: 2011-2017
Offshore Wind Production Revenue, Base Scenario, World Markets: 2011-2017
Cumulative Wind Power Generation Capacity, Base Scenario, World Markets: 2006-2015
Offshore Wind Installed Capacity, Base Scenario, World Markets: 2011-2017
Offshore Wind Power Production Revenue, Base Scenario, World Markets: 2011-2017
Evolution of Wind Technology Prototype Designs in the United States
Global Offshore Wind Projects Developed Between 1991 and 2010
U.S. Offshore Wind Resources at 90 Meters Height
Map of North Sea and Europe’s Offshore Wind Resources
Global Wave Power Assessment Map
Smith-Putnam 1.25 MW Two-Bladed Downwind Rotor Wind Turbine
Modern Upwind and Vintage Downwind Wind Turbines in Solano County, California
Ranking Europe’s Top Offshore Wind Markets
Summary of European Government Support Mechanisms
Cost Rational for Offshore Wind
NREL Ranking of Power Generation Costs
Comparisons of Line Losses between AC and DC Transmission Cables
ABB Installs First HVDC Offshore Wind System in Germany
Offshore Wind “Supernode” Transmission Topology
Kati Offshore Wind Turbine Installer Vessel
Turbine Cost Proportions per Component (Three-Bladed Wind Turbine)
Envisioned Evolution of Tower Technologies
U.S. Marine Renewable Energy Inventory
Bathtub Curve of Component Failures
O&M Cost Declines for Offshore Wind in Europe
U.S. (Blue) versus Europe (Pink) Maintenance Cost Trends
Three-Bladed 5 MW Upwind Wind Turbines in the North Sea
Cost per MW of Offshore Wind in Europe
Downwind 275 kW Two-Bladed Vergnet Downwind Wind Turbine
Nordic Windpower 1 MW Upwind Two-Bladed Wind Turbine
FloWind’s Vertical Axis Wind Turbine in California
AREVA’s M5000 Wind Turbine
Britannia C150 Turbine: 100-Meter Tower and 150-Meter Rotor
Goldwind 1.5 MW Turbines Operating in China
REpower 6 MW Wind Turbine
Siemens SWT 3 MW, 101-Meter Rotor Wind Turbine
112 3.0 MW Vestas Wind Turbine
Scale of 2-B Energy’s Two-Bladed Downwind Wind Turbine
Envisioned HVDC System with Offshore Wind, Solar, and Hydro in Europe
Google’s Phase 1 “Atlantic Wind Connection”
Three Floating Platform Concepts
Offshore Wind Needed to Meet the United Kingdom’s 40% by 2020 Renewables
Gifford/BMT/Freyssinet Gravity Concrete Structure
Keystone Bucket
MBD Suction Bucket Monopile
Self-Installing Wind Turbine Tribucket
Forecasted Energy Use by Fuel Type Through 2035
EIA Forecasts of Net Electricity Generation Fuels by 2035
Wholesale Power Costs Trends per DOE R&D Roadmap
DOE 20% U.S. Electricity Supply Goals by 2030
Four U.S. Priority Offshore Wind Resource Regions
NREL Estimates of Atlantic Coast Offshore Wind Potential
Atlantic States’ Retail Costs and Populations/Offshore Wind Costs in 2030
European Offshore Wind Projects in MW as of June 2010
U.K. Round 3 Offshore Wind Projects
Europe’s Proposed Supergrid in the North Sea (Phase 1)
China’s Offshore Wind Resources on the East Coast
China’s Offshore Wind Pipeline as of 2009
3 MW Sinovel Wind Turbines Operating in the East China Sea
Japan’s Offshore Wind Resources on Northeast Coastline
Offshore Wind Resources for South Korea
List of Tables
Offshore Wind Installed Capacity, Base Scenario, World Markets: 2011-2017
Offshore Wind Power Production Revenue, Base Scenario, World Markets: 2011-2017
Offshore Wind Installation Costs, Base Scenario, World Markets: 2011-2017
Offshore Wind Installed Capacity, Dire Scenario, World Markets: 2011-2017
Offshore Wind Power Production Revenue, Dire Scenario, World Markets: 2011-2017
Offshore Wind Installation Costs, Dire Scenario, World Markets: 2011-2017
Offshore Wind Installed Capacity, Aggressive Scenario, World Markets: 2011-2017
Offshore Wind Power Production Revenue, Aggressive Scenario, World Markets: 2011-2017
Offshore Wind Installation Costs, Aggressive Scenario, World Markets: 2011-2017
Global Incentives for Offshore Wind
Offshore Wind SWOT Analysis
Areva SA SWOT Analysis
Clipper Windpower SWOT Analysis
GE SWOT Analysis
Goldwind Science & Technology Co., Ltd. SWOT Analysis
REpower SWOT Analysis
Siemens SWOT Analysis
Vestas SWOT Analysis
Fishermen’s Energy SWOT Analysis
Mainstream Renewable Power SWOT Analysis
NRG Bluewater Wind SWOT Analysis
National Grid SWOT Analysis
Vattenfall SWOT Analysis
ABB SWOT Analysis
Google SWOT Analysis
Statoil SWOT Analysis
